44th Parl. 1st Sess.
June 9, 2023 10:00AM
- Jun/9/23 11:10:52 a.m.
- Watch
Mr. Speaker, the government has been running massive deficits ever since it took office. All this debt has predictably triggered an inflation crisis, which has led to massive mortgage rate hikes. Half of all homeowners say their mortgage was already barely affordable, and now they are one renewal away from a shocking new payment that will add $1,400 a month to a typical family with a mortgage.
Rate hikes are also crushing the dreams of new buyers and threatening to collapse transactions that are currently in progress. Young Canadians face housing prices and rents that have doubled, and now the highest interest rates in 25 years.
I beg the government to stop making things worse. It must stop the massive deficits that cause inflation and that are driving up mortgage rates to the point that homeowners cannot pay for the homes they own and young people have given up hope of ever owning one.
155 words
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/9/23 11:13:51 a.m.
- Watch
Mr. Speaker, the Liberal government has added more to our national debt than all previous governments combined. The only thing worse than a tax-and-spend Liberal is a borrow-and-spend Liberal. Liberal deficit borrowing is driving up interest rates, making Canadians' loans and mortgages more expensive. Liberal overspending is driving up the cost of goods and services, making everything, including our homes and our food, more expensive.
Albert Einstein once said that compound interest is the eighth wonder of the world, and that those who do not understand it will face the consequences. As interest rates rise, Canadian homeowners are facing the consequences, and Canadian taxpayers are facing the consequences of an exponential increase in government interest debt. Eventually this debt needs to be repaid. We cannot burden future generations with this overwhelming responsibility.
It is time to save Canadians' finances by ending the Liberal deficits and balancing the budget.
152 words
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/9/23 11:20:33 a.m.
- Watch
Mr. Speaker, it is simple: Massive Liberal deficits cause inflation to rise, which forces interest rate hikes and mortgage defaults. The solution is clear: Stop the deficits, which slows inflation, prevents the interest rate hikes and saves people's homes. This week, the Bank of Canada increased interest rates to 19 times what they were last year.
Will the Prime Minister end his inflationary deficit spending and save Canadians' homes?
70 words
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/9/23 11:23:48 a.m.
- Watch
Mr. Speaker, let us talk about the reality currently facing all Canadians. After eight years of Liberal governance, with chronic deficits and out-of-control spending, this is the reality. Uncontrolled deficits lead to higher inflation. Higher inflation leads to higher interest rates. What happens when interest rates go up? People run the risk of losing their homes. This is the reality facing Canadians every day, and will be for the months and years to come.
Why does the government not do what it did last November, that is, come up with a plan to balance the budget?
98 words
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/9/23 11:41:32 a.m.
- Watch
Mr. Speaker, earlier this week, the Bank of Canada hiked interest rates. This is a direct result of the government's inflation-inducing fiscal policy, which is driven by frivolous tax-and-spend policies that bankrupt Canadians. As a result, reams of struggling Canadians will default on their mortgages, putting the dreams of home ownership even further out of reach.
We do have a solution. We will stop the deficits, rein in inflation, stem interest rates and end the defaults. Are they willing to put partisanship aside, work with the opposition and end this inflationary deficit spending?
97 words
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/9/23 11:49:52 a.m.
- Watch
Mr. Speaker, the government continues to add fuel to the inflationary fire, despite the finance minister's words that deficits must be reduced and this is a line that cannot be crossed.
What will happen? Inflation goes up and interest rates go up, so Canadians default on their mortgages and Canadians lose their homes. What is the solution? The solution is to stop the inflationary spending and stop the interest rate hikes, so Canadians can have lower inflation rates and lower interest rates.
Is the government ready to do that?
90 words
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/9/23 11:51:04 a.m.
- Watch
Mr. Speaker, then why do we have the greatest level of household debt in Canada that we have ever had?
The IMF states that out of the G7, Canadians are most likely to default on their mortgages. Even the finance minister recognizes that Canadians are struggling. She said that Canadians are facing hardships as a result of high interest rates.
Why does the government not commit to eliminating inflationary deficits and eliminating inflationary spending, so that Canadians can have lower inflation and lower interest rates?
85 words
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/9/23 11:52:15 a.m.
- Watch
Mr. Speaker, the IMF warns that Canada is at the greatest risk of home mortgage defaults in the world. The Liberal government's out-of-control spending and massive deficits have caused inflation to skyrocket.
Canadians cannot absorb these higher rates, placing their dreams of home ownership at risk. Families are struggling, and they are struggling because of this Liberal government.
Will the Prime Minister end his inflationary deficit spending?
70 words
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/9/23 11:59:37 a.m.
- Watch
Mr. Speaker, for the past eight years, this Prime Minister and this government have been spending recklessly, and this is having a devastating effect on Canadian families. Accumulated deficits drive up inflation. Everyone knows that. Inflation has led to higher interest rates. The Bank of Canada had to raise its key interest rate. The result is ever-higher mortgage payments.
When will the Prime Minister finally understand that he needs to eliminate these inflationary deficits, which are putting people out on the streets?
83 words
- Hear!
- Rabble!
- add
- star_border
- share
- Jun/9/23 12:03:42 p.m.
- Watch
Mr. Speaker, eight years of the Liberal government have given Canadians higher deficits, higher inflation and higher interest rates, which, of course, lead to higher mortgage payments. According to a recent study by the International Monetary Fund, Canadians are now the most at risk to default on their mortgages, and this problem will only get worse as more and more Canadians renew their mortgages at higher interest rates.
When will the Prime Minister end his inflationary deficit spending?
78 words
- Hear!
- Rabble!
- add
- star_border
- share
- menumenu
- notificationsnotifications
- home
- mailmail
- searchsearch
